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of the cuts into taxes. but at any rate, we think early this week we'll have a clear sense of getting this done t. may have to go back to the house if the senate does amend it, and then the house i think would quickly pass it. host: stick with us real quick. senate majority whip dick durbin was on fox news sunday yesterday talking about the continuing spending resolution to keep the government funded and timing on what. i want to play that now. >> this is all very important, i understand, but we have work to be done in just a short period of time. i urge my senate colleagues, let's be sparing in the amends. let's get the c.r. passed. we can do it and do it quickly this coming week. host: before we let you go, if they don't get this done this week railroad company we thinking members may come back from recess next week before the 27th? is there any talk of that? guest: there's been nothing that i've heard, and i mean, i just wouldn't -- i wouldn't be too speaked by this. i think they will get it done early. i think they'll know by today, we'll be able to rough out a schedule after we h
we spoke to grover norquist of americans for tax reform on this morning's washington journal. here's a portion of the conversation. >> host: welcome back to the "washington journal" and over -- grover norquist joins us. i want to get your thoughts on the news of the growth and opportunity project report out from the republican national committee, the chairman of the republican national committee is having a press conference that started a few minutes ago at the national press club, talking about changes that the party needs to make in terms of outreach, changes to how to dominate a presidential nominee. just on what you've heard so far? >> guest: first of all is important to do a postmortem on an unsuccessful campaign. republicans at every recent to believe that -- would capture the senate and when the white house as well and it didn't happen. now at the same time republicans had 30 governors and democrats have 20 and at the state level more republican state legislators than democrats. there are 25 states where republicans have united control in both houses and only 12 states, less
the sequester and in committee, democrats proposed to close those special interest tax loopholes that riddle our tax code, republicans said no. democrats proposed to offset unwise republican cuts to medical research like alzheimer's, cancer, diabetes research at n.i.h., republicans said no. democrats tried to cut the special interest spending in the tax code to offset republican cuts to students who rely on pell grants but republicans said no. mr. van hollen: i yield the gentleman another minute and a half. the chair: the gentleman is recognized. ms. castor: the democrats in the budget committee proposed to strengthen medicare and replace the republican plan to turn medicare into a voucher program. all it does is simply shift the cost tour families and older neighbors. mr. speaker, this republican budget is not consistent with american values. it is not fiscally responsible. it is a charade, it is a capitulation to the tea party. it does not serve us well in economic recovery and the ways we want to grow america. it's a plan for economic weakness. it's a receding vision of american greatness. in
and businesses and consumers do not want to hear, it's a new tax on the internet. even downloads from ituness, who thinks that is a good idea? not me, here is good news "the kudlow report" begins right now. president obama in israel for the first same in his presidency, securing the relations with the allie in the middle east, here is what he had to say when greeted by benjamin netanyahu. it's in our fundamental security interest to stand with israel. it makes us both stronger and more prosperous and makes the world a better place. >> so question is, what exactly is the president hoping to accomplish in israel. here now we republican former u.s. ambassador and dan senor the coauthor of start up nation. joining me here on set for the hour, ryan grim, huff post washington bureau chief, and tony frato, former white house deputy press secretary. welcome to one and all, if i may go to you first, ambassador, there's all this media chatter that i'm reading today that president obama the not know what he wants to do and he has no agenda. it's said that he was the first u.s. president to visit israel
to be a temporary hike of taxes on but made them perm innocent locking in place an 8.8% top rate that could have new york's most productive residents taking eyes, and it's could take a hike, but will. i was thinking of that, will burr, it's another 9% on the top rate, close to 40%, half writeoffs saying nothing of the other taxes. you're paying 50% in taxes right out the gate. what's the deal? >> well, it's disappointing in that the business community, and the temporary increase part of the overall -- neil: must have known it was not temporary. >> well, no, we believed it would be, and went along with it as part of the overall reform, and he did make some good reforms, but this one is quite different. as far as i can see, this is paired with the $350 check being dulled out to sort of upper middle class people, and then -- neil: robbing peter to pay paul. >> yeah. neil: you think you were snickered? >> a direct money transfer from people in one income bracket to people in another income bracket. neil: so here you were trying to be pragmatic of this, this guy might be a different type of democrat, unl
on public servants, wasted money spent in the financial crisis and the only thing is higher taxes. >> there is an oversight of spending tax dollars, we have known that for a while. with the story with school superintendent, national average 162,000 to be a school superintendent but some of these guys are running half a dozen schools, less than a million students, some of them are making 200,000 or more. it is amazing there is no transparency, little oversight for the public servants will scream about the private sector. look to your own backyard. charles: the same ideology that argues about corporate salaries uses that as an excuse to bump up their own salaries. digging a were using to bump up your salaries? connell: thank you, charles, appreciate it. dagen: i am taken mcdonnell. connell: i am connell mcshane. thank you for joining us and this is what is keeping washington up at night. preventing a budget deal from happening. dagen: a big day for bernanke and company. is it time for the central bank to pull back on the bond buying? connell: and the taiwan factory making the recall
medicare and raise taxes on middle-class families all while handing out more tax breaks to the wealthy. the ryan republican budget is anything but balanced and it reflects the same backward value americans rejected in november. instead of asking the wealthiest to contribute their fair share, the ryan republican budget demands middle-class families pay more in taxes. instead of ending wasteful corporate tax loopholes, it basically ends medicare. in fact, the ryan republican budget takes special aim at health care. it would eliminate free preventive health services for 34 million americans. the ryan republican budget would increase prescription drug prices for seniors by $2.5 billion in one year. it would end the coverage guarantees for 3.1 million young men and women on their parents health plans. the budget would end coverage for mammograms, cervical cancer screenings and contraception for more than 47 million women. and it would allow insurance companies to deny care for 17 million children simply because they were born with a heart defect or some other illness. these drastic cuts wil
taxes you can take until you topple the entire economy. this is the challenge that this week will have. this week republicans will have a budget that balances in ten years. the democrats' budget never balances. no household can run that way. >> let me challenge you on this point because here is paul ryan this week, and he laid out very clearly what he thought the job was. let me play that. >> we think we owe the country a balanced budget. we think we owe the country solutions to big problems that are plaguing our nation -- a debt crisis on the horizon, a slow-growing economy, people trapped in poverty. we're showing our answers. >> right, but the answers rely on $700 billion in savings from interest. most of the deficit reduction comes from repealing the president's health care reform, which nobody thinks is going to happen. so how seriously should this be viewed as a roadmap for a balanced budget? >> it should be very serious, because budgets -- >> you're not going to repeal obama care. >> budgets are blue prints and priorities. we lay out. we think obama care should be repealed. the
taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of
by adopting cuts but in the tax codes, the tax breaks, the tax credits that are loaded up in the tax code that go mostly to the wealthiest americans. you are talking about getting rid of the tax benefits or loophole? >> that's exactly right. >> give me an example of this. is there enough money there? >> absolutely enough money to over $1.2 trillion over 10 years. we could get it, for example, from the corporate deferral on-shore profit did companies that make their profit did overseas, did he ever their payments, sometimes never pay them, and >> bill: that just encourages people to move their money or jobs offshore? >> it's an incentive. >> why should we be rewarding them for exporting jobs basically? >> what these corporate interests and wealthy americans do is hide spending in give them a check? we would is a no way. in the tax code, nobody is really examining that. >> bill: exact. >> special tax -- well, mortgage interest deductions for second homes. not just a first home. i will tell you, a big one is the fossil fuel subsidy. i am talking about oil an
for medicare. or else i lose my provider, and i think that's a tax they are putting on people with -- bilities and trying to got to pay on their disability. and those with legionnaires disease or h.i.v., dirty needles. host: ray, atlanta, georgia, republican party. good morning. caller: good morning. very interesting conversation you're having this morning. i have found that most people pend a fairer amount of time planning for their vacation than for their retirement. i work with a fortune 10 company and have been with them for 28 years so at the water cooler hearing different conversations if you ask people how much money they have in their 401-k, a lot of them have no idea nor do they have any idea on the different plans to put their money in. it's rather appalling, actually. host: ray, how old are you? caller: 52. host: when do you plan to retire? caller: i'm going to work until i'm 62-63 years old. something about public america, i have a -- family members with retirement pensions about $65,000. being in corporate america my pension is nowhere near that, so if we don't save in our 401-k t
of dollars of emergency crash and creditors impose onetime tax of 3% on all bank deposits under $130,000. >> going deep here. >> the tax could be closer to 10% on people who have over $640,000 in the bank. that's according to the "the wall street journal" this morning. people stood in long lines over the weekend to withdraw money before the policy went into effect and now russian president vladimir putin is calling the move, quote, unfair, unprofessional and dangerous. russian citizens make up the majority of billions of euros held in cypress bank. this is important. >> cypress. >> who cares about cyprus? >> come on, cyprus. are you telling me if somebody sneezes in cyprus we get a cold than on the nasdaq? >> tell us why. >> we have a cold on the nasdaq. the nasdaq is going down today. not too many people care about cyprus but a way the europeans have screwed up the bailout by getting the people to pay a part of the cost. you could have a run on the bank and europeans say why do i have my money in this bank? might be a tax on me next. it shows that europe is still a mess, that they h
a bank deposit tax. sterling is trading lower as they get ready to set out this year's budget expecting to redirect spending to revive growth and deutsche bank lowers its earnings due to mortgage related lawsuits and/ regulator investigations. >>> plenty still happening as we follow the cyprus story for you and explore just what it means for investors across europe and around the world because the market reaction has been relatively muted if you consider the extraordinary nature of these events. cyprus' president is meeting with party leaders this morning after lawmakers last night unanimously rejected a proposed tax on bank deposits. this was crucial to unlocking a $10 billion bailout. the house speaker said the decision had been made for all europeans. >> this decision of the house of the republic of cyprus is protecting all the people of the countries of the european union and this is the main message i want to send tonight to all european citizens. >> now meanwhile cyprus' finance minister is appealing to moscow for help fresh from his talks with his counterpart this morning. discus
years and will not raise taxes. how does he accomplish this? he doesn't spend what we don't have. here is how the congressman explained it earlier today. >> this budget cuts spending by 4.6 trillion dollars offer the next ten years. historically we've paid a little less than 1/5 of our income to the federal government, but the government has spent a lot more. we match revenues with expenditures, so the budget matches the spending with income just like every family and business must do throughout america. >> sean: to help us reach this balanced budget in ten years, congressman ryan lays out four major issue we as a country must tackle. first, energy. ryan's plan paves a path for affordable and american produced energy, most notably, the plan green lights the keystone pipeline to generate almost 140,000 jobs. second, health care, first and foremost the budget repeals obamacare and strengthsens the medicare system for future generations. third, welfare reform, changes made in 1996 by extended reforms to other programs. gives states flexibility so they can tailor programs like medicaid and
and expanding medicaid in garden state. virginia's bob mcdonald who raised taxes to pay for overdue transportation projects in his state. cpac officials make no apologies for not inviting christie or mcdonald saying they hope that next year they will deserve an invitation to cpac 2014. one other thing, bret. the night before last in my report on the federal employees delinquent in their taxes, i talked about an i.r.s. report saying one in ten treasury department officials were delinquent on the taxes. it's 1 in 100. apologies to treasury and i don't want the i.r.s. mad at me. >> bret: thank you. president obama met again today with the harshest critics. congressional republicans. this time, the president got together with g.o.p. senators. while the budget is the focus, a relatively small issue in dollars continues to loom large. correspondent shannon bream is at the white house. >> the administration fired back, criticism regarding the cancellation of white house tours. coming from a source not normally viewed as a critic. the editorial board of the "washington post." equated the de
appreciate your reporting on the disastrous tax about obamacare. please keep on reporting the facts from all different angles. we have learned so much from your informative guests as well as you. so nice. thank you. love hearing from you. send me an e-mail. finally tonight, as if we needed another reason not to take a cruise vacation. listen to this. carnival cruise line's ship with 5600 passengers and crew on board is stuck. yes, stuck at a port in statement. the company says the ships emergency diesel generator now -- malfunction yesterday and guess what happened to maquis have heard this before. toilets overflowed. this comes one month after another vessel was disabled by a fire trapping dozens of passengers s.c. for days. now, some of those passengers said they would ticker's again. please raise your hand if you ever want to set foot on a cruise ship. i am not part of that group. that is my "2 cents more." thank you for being with us. it is been agreed met with you here on "the willis report." have a wonderful evening. ♪ lou: good evening, everybody. thank you for being with us. the wi
bob corker of tennessee says he could envision raising tax revenue if democrats embrace big changes to medicare and social security. corker's position on sunday puts him at odds with other members of his party including house speaker john boehner who's ruling out the prospect of any new taxes. >> i think there by the way is a chance on a deal. i know the president is saying the right things and we have an opportunity over the next four to five months. i think republicans, if they saw true entitlement reform, would be glad to look at tax reform that generates additional revenues and that doesn't mean increasing rates, that means closing loopholes. it also means arranging our tax system so that we have economic growth. >> i don't know whether we can come to a big agreement. if we do, it will be between the two parties on capitol hill. the president got his tax hikes on january the 1st. the talk about raising revenue is over. it's time to deal with the spending problem. >> the speaker went on to say he agrees with president obama that the country does not face an immediate debt crisis.
with all this speculation, you know, that this is a tax haven and that this is money that people have questions about, that the way europe is approaching sigh pruls is not the way you'd awe approach these other countries and if you approach the other countries this way you create a real problem and they know that. >> that brings what happens to the parliament and what impact does that have. >> the cyprian parliament decide the to vote down the bill to confiscate the money from depositors. we don't have a bill or any certainty what's going to happen. most likely recommit to the cyprian parliament and then see what's going to happen to the banks. remember the banks have been closed until thursday morning. today walt the governor of the central bank of cyprus presumely he will know saying it could be a run of ten percent of deposits on the cyprian banks. and that's cause for concern. i think the banks in cyprus make two fundamental mistakes. banking 101 is supposed to boil out. don't lose money you don't have and they did and don't ever mess with deposits because that really does effect
as republicans. smaller government, lower taxes, less spending, rational regulation, open markets, free trade. these are the things that unite as as republicans. it is no surprise to me, lou, that if you take this 60 million people who voted republican for president last year, they're not going to all agree on everything in it would be silly to think that they would. but, there are things that generally unite us, and we need to learn how to work together and push hard for what we know is right. secondly, to understand and not everybody who is a good person or even a good republican is goin to agree with you on everything. heck, my wife doesn't agree with me and everything. lou: you put it that way. in my house i have to say, have to agree with her. republicans have lost to president ections, as you are keenly aware, governor. the vote totals declining over those two elections last year. the spending, astronomical. the republicans -- fighting many people are not aware, republicans actually out raised anoutspend the democratic party. presidt obama. over $1 billion. now, that is, by mimas, gover
shareholders blame for the 7:00's problems. >> 7 on your side tax hot line is underway. here is the number. irs and california society of enrolled agents and united way are standing by to answer your questions. >> plus, fresh fish you won't find in a couple bay area supermarkets could signal a seafood change. after 4:30... >> rivalry between apple and samsung is intensifying including construction of a gleaming new headquarters. i'm david louie. we'll have the story still to come. >> at 410 a live look at traffic. this is the skyway. it's a usual bumper to bumper crawl. left to right traffic is go together lower deck of the bay bridge a little bit better for folks on the righthand side of the screen. back wit >>> two big supermarkets market chain as nounsd they're staying away from so called franken fish. trader joes says i it will not sell a new type of genetically modified salmon. it's a cross between an atlantic and pacific salmon. this video shows kit grow twice as fast as regular salmon and fda says it won't cause health problems or harm the environment. critics say it could threaten other
cut the deficit $1.8 trillion half through spending cuts and half through tax hikes. senator corker, let me start with you will senate republicans accept a tax increase if you get serious entitlement reform and cuts? >> i think senate republicans and all republicans want to see a 75 year solution to entitlements and i think republicans are joined in wanting to see tax reform so to the extent that generates revenues and how that is scored obviously that will be debated as we move ahead but i think all of us understand the real issues driving the deficit is in our o country are the entitlements. we want to see these available for generations to come. >> chris: but real quickly you you understand the price for entitlement reform in any deal would be a tax increase. would you buy that and what do you think are the prospects there willle be a deal sometime before this summer? >> well, again, i think there by the way is a chance on a deal. i know the president is saying the right things and we have an opportunity over the next four to five months i think that we will know when the preside
by the parliament. [ inaudible [ inaudible ] >> they ordered down the blast. no tax or levy would be imposed on deposits less than $26,000. but there would have still been a fight on largeer amounts. it has people lining up at atm again today. banks remain closed. i am withdrawing some money in case of an emergency, this cypriat says. european union helped force the plan on cyprus in exchange for additional bail-out money. today, they, too, admit the seizure of private funds was a dangerous idea. >> i understand that there was a feeling, the bo in a way. >> russians have been speaking out against the approach as well. they hold up to half of the foreign investments in deposi deposits in cyprus. existing loans with moscow set to be present. >> there is a contract between russians and placement insy produce and the russian government. it's safer to put mup there. >> now the cyprus government has to figure out a new way out of the trouble. european union has to figure out if it will help lower. the banks are set to reopen on thursday. bret? >> greg palkot in london. thank you. back here at home
't the president, but the governor of california, and tax reform happened in that state. and it wasn't until later, ironically back in california, when ronald reagan as the president signed into raw the economic recovery -- into law the economic recovery act. real reform happened in the states. as was mentioned yesterday, there are now in america some 30 states that have republican governors and nearly as many that have republican legislatures. [applause] and so that's the good news. the good news is we have success, and it's happening in our states, and we can learn from that to tell our friends and our colleagues in washington how to move forward. because, you see, in the states to be successful we have to be optimistic. we have to be relevant. and most importantly, we have to be courageous. let me talk to you a little bit about each of those three things. you see, when it talks about being inspirational and optimistics, one of the things that's interesting is when i first ran for governor -- i have to say first because who would have thought i'd have to get elected twice in the same term -- [la
.85 trillion, half through spending cuts and half through tax hikes. the republican plan, paul ryan plan, would cut the deficit $4.6 trillion in ten years and includes repealing obamacare. the hope going through the legislative process they might be able to find compromise to strike some sort of deal. >> we need to put americans back to work. that's our first priority. deficit reduction i would put as the second priority and one that is coupled with economic growth the so i think we can do both. make sure we have deficit reduction but don't cut too much too fast. >> reporter: bottom line, bill, american people are seeing this over and over again. republicans and democrats fighting on both sides of the aisle and perhaps, they can come together for a grand bargain but just doesn't appear to be the case right now. as they grapple with the budget, keep in mind that two weeks away they have to come up with a continuing resolution by march 27. bill: as ryan says, at least there is baseline for comparison between the two sides. we'll get into that in just a moment here. thank you, kelly wright on the
and meaningful steps to reduce tensions. >> taxing more, borrowing more, and spending more is not a path to prosperity. >> republican budget is same baby with a new diaper. >> the republicans are just totally bamboozled. >> we do not have an immediate debt crisis. >> we do have an immediate problem. >> they think they got landslided and they didn't. >> more than half of our members have never dealt with the issue of immigration reform. >>> we start today with all eyes on one of the most volatile regions of the world. as the president prepares to fly to israel just a few short hours from now. and while the president and prime minister netanyahu already have a congested agenda, ranging from the arab spring, to the israeli/palestinian conflict, there was yet another disturbing development today in syria when both the rebels and forces loyal to president assad accused each other of firing chemical weapons that syrian state tv has said killed at least 25 people in the north of the country. the white house sounded a skeptical note but warned against any further escalation of violence. >> on th
, in the ryan budget takes the taxes and repealing obamacare. what is happening is the complete integrity of our financial system is being called into question. we have the fed printing day and night to provide the monetary support for these fiscal policies, and to hear republicans say, the speaker of the house say, this is not an immediate debt crisis. what the hell does one look like? >> neil: makes you examine, were they trying to say -- calm people down into thinking we're not going to followed like this hour or this day. but by saying not immediate, and agreeing with the president, they give him a negotiating edge. the president says this isn't really like a right-now threat. up to now they've been saying this is a right-now threat. >> i don't think boehner believes it is. i think he has been around a long time. the think he has participated in this for a long time. i don't think he would use this as a crisis, and it is a crisis. paul ryan was on my program over a year ago, and he said we have two years. well, that's over a year ago, so i guess we have about ten months, and i'm surprised at
if is car theish oo you here is tax payer loans are contingent upon building cars at the former gm plant in the u.s. in delaware. that was supposed to create thousands of american jobs but so far has created none. potential chinese buyers balking at the idea to build here in the u.s. it is uncertain if the white house will change it for that reason asewn. fox business network, lauren simonetti, thank you. >>> are you looking to get ahead in your career? it may be as simple as setting a date and writing it down. kate upton could be a lot of men's dreamgirl. one teenager is hoping she is the dream date for the prom. did she say yes? ÷÷ music ... music ... music... >> 20 after the hour. the fda is scrapping the cigarette warnings. they are abandoning a legal battle to have cigarettes light up. they will replace those to include images of diseased lungs. overnight new york firefighters rescued a construction worker who was trapped in mud for hours. he was working in a 75 foot deep subway tunnel when he got suck in mud up to his waste. firefighters used an vel vacuum to help pull the man
taxes. there are less taxes going into the government. it is because the government cannot balance our budget, cannot act responsibly, cannot work together. host: paul on the air twitter p the " t " huffington post," -- sing on the elderly in theirr of americans 50s at risk of hunter grew by 40%. according to "the huffington post," rising gas prices as low as rising electricity is only exacerbating the trend among some of america's elderly. mike is on the phone in chicago. our question is what is the government's role when it comes to hunker in america? caller: i am a long time listener and a first-time caller. this kind of stuck in there with me. the problem with government is waste.ot watching the you have a lot -- you have an onslaught of people using link texting on iphones. they are taking advantage of the system. if our government to find out who really need it and give it to them -- people who can work should work. host: thank you for the call. to not be a stranger. if you have access to the internet, "the washington post" has this story on their website. the focus is on one rho
now that they are working on does nothing more than raise taxes. they want more of your money, more money out of your paycheck. ask yourself does washington really need more of your money? we are $16 trillion in debt. we have deficits we can't even wrap our arms around, and they want more of your money. if you were a financial advisor that put you $1 million in debt and ripped through your college savings for your children and all of your checking account and said, just give me more money and we'll solve the problem, would you do it? absolutely not. more than jobs, though, we are also working to save medicare and social security, the commitments that we have made to the american people. so let's take a look here at the big picture. here's a budget breakdown of where we are at right now. look, your eyes are glazed over and we start talking about the trillions of dollars that we spend, but let's take a look at what you pay versus what you expect. this big blue part right here? that's on auto pilot. no adults have come to the table to talk about where we are at today and how to actuall
washington times" -- there are no sacred cows that calls for $1 trillion in new taxes. what's your takeaway? guest: well, what it does is also call for substantial cuts, but it deals with deficit reduction in a balanced way. what the republicans want to do is do deficit reduction simply by cutting, cutting, cutting. doing away with medicare as we know it. right now converting that into a voucher system which we very, very onerous for senior citizens, making devastating cuts in medicaid which means that millions of millions of american people and kids will lose their health insurance. massive cuts in education, in nutrition. basically every program that in the middle of a terrible recession working people depend upon would be done away with. what my view is -- i think the senate agrees what the committee is moving toward is to say, wait a second, we are seeing a middle class collapse, poverty at a high rate while the wealthiest and corporations are doing extraordinarily well. we are looking at record breaking profits for corporations and yet their effective tax rate is the lowest since 1972.
approved a measure that exempts several tax measures for the n-f-l. kron 4's j.r. stone talked with santa clara's mayor who says this is a win win deal for everyone. while some still question this move?.mayor jamie matthews told me tuesday evening that the city will as part of the agreement that was unanimously approved?.hotel tax?s for 350 of those with the nfl will be waived. two tax surcharges that would go to funding the new stadium are also waived among other things. the mayor says money will be made back from filling hotels and also private donors. some that i talked with this evening are still not happy with the city?s decision. santa clara is competing with miami for the 2016 super bowl. miami however chose not to give in to these requests made by the nfl. mayor matthews believes this move puts santa clara in a prime position to get the big game. while there was lots of super bowl talk tonight keep in mind the nfl won?t make their decision on a location until late may. reporting in santa clara j.r. stone kron 4 news. now to a developing story in san jose. police are looking for a
. if tomorrow you wake up and you find there is a 10% tax on your bank deposits, you will not be happy. if you're a politician in cyprus you're dealing with this and they're bank backing away from it. it was a bad idea in the first place. cyprus needs $10 billion from the european union and the european central bank and they have given others like greece hundreds of billions of dollars. so they're upset. the cypriot banks are insolvent. they're going, they will get a run. melissa: they are insolvent and they will get a run, yeah. >> but it's not cyprus's fault in my view. melissa: doesn't matter whose fault it is if it happens. julia, what is the outcome? what is the domino effect? which if there is a run on the banks there which there certainly will be, should i withdraw money from my bank here? >> no, i don't think so. the structure of the cypriot problem was quite unique the bank assets in cyprus are something like 730% of the country's gdp. it really is is a safe haven for russian investors. that is why when they needed money, there is always going to be some burden-sharing in a bailout. w
for considering is the tax and spending blueprint for fiscal year 2014. live coverage at 2:15 eastern here on c-span2. south carolina is holding a primary today in the 1st congressional house district. here's a look at that race. >> host: well, here is the front page of the state newspaper this morning, a story by gina smith for the island packet. turnout will decide today's election for the 1st congressional seat in south carolina. gina smith is joining us on the phone this morning. of gina smith, tell me about this race. who's running and why? >> guest: well, good morning from south carolina. this is like christmas morning for me, i'm so excited. [laughter] this is really an exciting race. we have 18 republicans, two democrats, an incredibly crowded field. but some of the names in this race just make it just delicious to watch. we have mark stanford, the former -- sanford, the former governor who most of the nation remembers as the guy who slipped out of the country in 2009 so he could go visit his mistress, and he -- everyone thought he was hiking the appalachian trail, but he was up to some
with your 401(k)? well, over the weekend, european policymakers agreed to bail them out by imposing a tax on the savings accounts of people who live there. that's right. they're actually taking the bailout money directly from people's bank accounts. of course, that sent folks running to their atms to withdraw their money, sparking a panic. now there's concern the same thing will happen in other parts of europe. and even though wall street is hanging tough, could the cyprus crisis impact us down the line? tom foreman has a fancy show-and-tell to help break it all down for us. tom, thanks for joining us. i understand why cypriots are worried, but why should americans be? >> because this can rattle your wallet. >> really? >> look at this over here. i start with the rhetorical question. what do shreveport, louisiana, knoxville, tennessee, have in common? they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, s
of the nation of cyprus. the government elected to come up with a plan be after the parliament levied a tax of up to 10% on anyone who had any bank deposits. now the question is whether they going to do. this is important for us and of course, that can affect our 401k. but that dow average just hit a record high. greg is following the story from london. reporter: that's right, folks today are scrambling to come up with a new way from dragging all of your done with it. they voted down a plan that would see big bites taken out of private bank accounts. again, there has to be a way to get this country out of the way. one way to do it is lax banking regulations. moscow has a stake in all this. officials are reportedly looking for a big loan. back in, with strings like energy and getting rights for the people. the banks are worrying that people. we are told that it could be closed until some kind of deal is done. atms are working. you can get about $1300 out of it and atm each and every everyday. but the hitch is that the atm's run out of money by about 7:30 a.m. so you have to get there early.
are on the table from consolidations to furlough days and asking the community to support a tax. since the beginning of the recession allen rock avoided some of the more painful cuts other districts went through. while the math is tough for grown ups the lesson is harder for the kids. >> i don't know how to explain to him you have to go to school because of no funding. gl i don't feel like leaving. i like this school. >> that was kris sanchez reporting. >>> he once wrote laws and policies for santa clara county. today the former president of the board of supervisors is on the wrong side of the law. george shirakawa pled guilty to 12 charges including felony regarding public money he reportedly used to feed a gambling addiction. what was his reaction today? >> reporter: given the d.a. said there was a dark cloud over santa clara county shirakawa didn't speak. fierce fighter for the poor and under privileged told the judge he broke the law. 12 times the judge asked former supervisor george shirakawa how he pled and 12 times shirakawa responded guilty. >> it's a very sad day when a super
are always trying to protect taxes or wealthy people? is that a problem out there with the rank-and-file voters? >> no, i mean -- i don't think so. i think that's obviously a misperception that's become a real perception by the public. but i think we have to talk about things in ways that people can relate to. i mean, if you're talking about taxes and taxing small businesses, you have to talk about the fact that if -- if -- if our small businessman has to pay more money to the government, then he's going to have less money to pay to his ememployers, and the ememployers will have less money to send kids to the school of their choice. i think it's a matter of talking about the debt differently. not just we are in imminent danger in a debt crisis in this country. but what does that mean to people? it means that our government is growing so fast and it's becoming so expensive that we're making payments to our credit cards that we can't afford, which means we have to keep -- we'll keep having this debate about needing more revenue to the government. well, that means less money in peo
meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignant they weren't brought into talks. let's hear what he had to say earlier on about the state of the current talks. >> first meeting very constructive. very honest discussion. we underscored how difficult the situation is and we'll now continue our discussions to find a solution by which we hope we will get some support from russia. >> in terms of that support, are we talking about a change of terms for the current existing 2.5 billion euro loan and an extension of 5 billion loan in addition to that? >
the budget over the next ten years. >> but no tax increases. >> no tax increases. the president already got $650 billion worth of tax increases january 1st. he got a trillion dollars worth of tax increases in obama care. this year the federal government will bring in more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spending cuts. the taxes did go up. it still hasn't made enough of a dent. you still have to sit down and do something. >> right. i think we're doing our budget this year. actually we're doing it this week here in the house. our budget will balance in ten years. we're going to pass our budget. hopefully the senate will pass their budget. except their budget never comes to balance. the president's budget never comes to b
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